Jobs report brings varied reactions
Friday’s jobs report is evidence that the private economy is growing, despite the efforts of government, asserts the Wall Street Journal.
Democrats disagree, maintaining the jobs report was a sign of a growing recovery as a consequence of government action. While Republicans largely focused on the stagnant unemployment rate and the kind of jobs added – largely in the service sector and IT.
Economists were not divided along party lines, but there was an equal amount of disagreement as to what the numbers mean.
Time magazine’s Rana Foroohar examines how consumer emotions drive the market, rather than the other way around.
“You can layer the S&P500 Index on top of the Bloomberg Consumer Comfort index since 1993 and see a nearly perfect reflection. That said, the dips and the heights don’t actually reflect fundamental stock valuations. The markets respond to our moods, but neither is necessarily logical,” she writes.